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Oceanic Bank Showcases Outreach Programme at Aitec Conference

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Oceanic Bank’s strong commitment to extending financial services to the majority of unbanked Nigerians has resulted in it taking lead sponsor position in this year’s Aitec Banking & Payment Technologies Conference, which will have a major focus on “Transforming Access to Finance through Branchless Banking.”
Announcing the bank’s support for the conference at a recent press conference, Ade Asekun, head of Retail Banking Group, said that the conference matched the bank’s business and social objectives of providing low-cost banking services for the unbanked. “Oceanic is currently working out modalities to offer financial services beyond its current branch network through the use of advanced mobile and payment technologies. It is expected that this will drive its inclusive business in the semi-urban and rural areas. Through its entry into microfinance space, the bank plans to facilitate access to financial services to more than two million Nigerians currently unbanked or under-banked by the end of 2011.”
Already, Oceanic’s micro credit operations, targeting the active poor, have resulted in an unprecedented increase in number of microfinance customers (loan and deposit) from about 50 in March 2008 to about 400,000 today, resulting in one of the largest microfinance portfolios in Nigeria.
Asekun said that the bank had decided to sponsor the conference because it is going to play a vital role in educating the market and promoting the adoption of best practices in microfinance and mobile banking, as well as all other areas of retail banking.
Over 400 managers and professionals from the financial services sector are attending the 3-day event, which also includes an exhibition of international and local financial solution and equipment suppliers.
Sean Moroney, chairman of Aitec Africa, welcomed Oceanic’s support, emphasizing the great educational value the conference represented, with over 20 international experts travelling to Lagos to share their knowledge with Nigeria’s bankers. “In these hard times when training budgets have been slashed, we are offering a unique training opportunity at the banks’ own doorsteps. At very little cost, they can send teams of executives to gain knowledge that they can take back to their organizations for practical implementation.”
Modupe Ladipo, CEO of EFInA Nigeria, an NGO dedicated to enhancing financial services, said they and other partner organizations working in the financial services sector, were supporting the conference as an important platform to promote effective regulation and expansion of financial services in Nigeria.

 

 

 


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NIHSA Warns States of Possible Flood within Seven Days

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Nigeria Hydrological Service Agency (NIHSA) has warned of possible floods in parts of Adamawa, Bauchi, Edo, Imo, Enugu, Akwa Ibom, Cross River, Kaduna, Plateau, Niger, Benue, and Borno states within the next seven days.

NIHSA Warns States of Possible Flood within Seven Days

According to information posted on NIHSA X handle, the Agency announced medium flood advisory in force for the next 7 days across Adamawa, Bauchi, and 11 other States.

“Localised inundation is forecast along the main channel; named communities below sit on the projected footprint. Stations: Saminara on the Karam river, Waya Dam Site on the Waya river, Amber on the Amber river.

“Adamawa; Lemsa, Lamurde, Numan Exposure: 147 comm. 49 schis 40 hith 6 mkts17 relig. Bauchi-Bauchi, Ningi, Shira. Exposure: 4 comm. Kaduna; Chikun, Giwa, Igabi, Jaba, Jema’a, Kachia, Kaura, Kauru, +6 more. Exposure: 1 comm.

“Borno-Gubio, Mobbar. Exposure: 680 comm. 8 schls 6 hith 5 mkts 21 relig. Edo-Akoko-Ed, EtsakoEa, EtsakoWe, Ikpoba-Okha, Orhionmw, OviaNort, OviaSo.. Exposure: 3 comm.

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“Imo-Aboh-Mba, Oguta, Ohaji/Eg, Okigwe, Owerri North, Owerri West. Exposure: 3 comm. 7 more states affected and severity LGAs”.

NIHSA advised people in the affected areas to “do NOT cross flooded roads, bridges, or fast-moving water on foot or by vehicle.

“Clear drainage channels and river-mouth blockages; avoid building or living in the floodplain and move people, livestock and valuables from the floodplain to pre-identified higher ground,” NIHSA stated.

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First Trustees Advocates Estate Planning as an Essential Tool in Every Wealth Creation Strategy

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First Trustees Limited, a subsidiary of FirstHoldCo Plc., and a leading provider of fiduciary and trusteeship services in Nigeria, is encouraging individuals, professionals, entrepreneurs, and investors to view Estate Planning not as an end-of-life exercise, but as a strategic investment tool for protecting, preserving, and transferring wealth across generations.

As more Nigerians focus on wealth creation through businesses, real estate investments, and other income-generating assets, experts are emphasizing that building wealth is only one part of the equation.

Equally important is creating structures that ensure those assets remain protected, properly managed, and seamlessly transferred to succeeding generations in accordance with the asset owner’s wishes. Importantly, Estate Planning is not solely for the wealthy, it is a prudent step for anyone with assets, dependants, or a business to protect, regardless of age, profession, or net worth.

Speaking on the importance of Estate Planning, Ereifemi Akeredolu, Managing Director/CEO, First Trustees Limited, noted that Estate Planning should be considered a core pillar of every long-term financial strategy.

“Many people focus on creating wealth but give litle thought to preserving it. Estate Planning is a wealth protection strategy that helps individuals safeguard their assets, secure their family’s future, and ensure that the value they build today continues to benefit future generations.”

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Using tools such as Trusts, Wills, and advanced succession plans, individuals can build structures that support wealth preservation, business continuity, asset protection, and intergenerational wealth transfer.

For entrepreneurs and business owners, Estate Planning serves as a powerful tool for ensuring business sustainability, helping organizations remain stable and operational regardless of unforeseen circumstances.

First Trustees continues to emphasize and educate on the importance of Estate Planning as a comprehensive strategy for proactive planning. It remains one of the most important financial decisions an individual can make: it provides clarity, minimizes uncertainty, and protects assets from unnecessary erosion and disputes. It also creates financial security for loved ones, supports business succession and continuity, and facilitates long-term investment and legacy planning.

 

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Nearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory

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Nearpays, Nigerian fintech, has won the AI for Good Innovation Factory grand finale — the first African startup ever to take the global title in the competition, which runs as part of the United Nations’ AI for Good Global Summit.

Nearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory

The competition drew more than 500 startups worldwide, each pitching AI solutions aimed at social and economic challenges.

The summit itself is organised by the UN through the International Telecommunication Union (ITU) in partnership with several UN agencies, convening governments, researchers, startups, and technology companies around AI’s role in development.

Nearpays’ route to the title ran through Johannesburg, where it won the African regional competition, before advancing to the global finals in Geneva.

There, the company progressed through the semi-finals and claimed the grand finale — a first for the continent.

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The company describes the win as bigger than a corporate milestone, calling it a victory for African innovation and proof that technology built to solve local problems can compete, and win, on the world stage.

Nearpays was founded to close a stubborn gap in African payments: small and medium-sized businesses that can’t afford or access traditional point-of-sale terminals.

Cost, availability, and deployment hurdles have kept many merchants — particularly in rural and underserved communities — locked out of digital payments.

Its answer is SoftPOS: an AI-powered platform that turns compatible Android smartphones into payment acceptance devices, letting merchants take contactless card payments with nothing more than their phones. AI is embedded across the platform, supporting payment processing, compliance, fraud detection, and business operations.

Crucially, the platform was built for African infrastructure realities — it works both online and offline, so merchants can keep accepting payments even without internet connectivity.

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The company credited its team’s years of product development and customer engagement for the result, and thanked the UN, the ITU, and the AI for Good initiative for building a platform where innovators can apply AI to real-world problems.

It also said it hopes the win encourages more African founders to build technology that answers local needs while competing internationally.

For Nearpays, the title closes one chapter and opens another, as the company pushes on with expanding digital financial infrastructure across Afric

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